NOTE 16 - SUBSEQUENT EVENTS

The Company has evaluated events and transactions subsequent to December 31, 2021 through the date the financial statements were issued. Except for the following, there are no subsequent events identified that would require disclosure in the financial statements.

Board of Directors Compensation – Fourth Quarter 2021

On January 17, 2022, the Company paid $88,125 in cash and shares of common stock to the Board of Directors for compensation for the fourth quarter of 2021.

ACORN Consulting Agreement

On February 22, 2022, the Company entered into a consulting agreement with ACORN, a professional relations and consulting firm. ACORN will be engaged to create a full market awareness program, drive long-term investors to the Company and expand the Company’s investor base. The Company will pay ACORN $10,000 in cash and $45,000 in shares of common stock during an initial six-month period, $10,000 in cash and $22,500 in shares of common stock during a second period of three months and $10,000 in cash and $22,500 in shares of common stock during a final period of three months. These compensation shares will be fully vested, earned, authorized and paid upon issuance.

MDM Worldwide Solutions, Inc. Consulting Agreement

On March 15, 2022, the Company entered into a consulting agreement with MDM Worldwide Solutions, Inc. (“MDM”). MDM will be engaged to provide the Company with strategic communication-based advisory and consulting services for the purpose of targeted outreach and engagement with the inflammatory disease communities online. The Company will pay MDM $12,500 in cash per month and a one-time 20,000 shares of restricted common stock, which will be deemed earned upon execution of the contract. The initial term of the contract is six months.

Amendment to the Fourth Oxford Agreement

On March 22, 2022, CannU.K. entered into an amendment to the Fourth Oxford Agreement, which was originally signed on September 21, 2020, to extend the research period to December 31, 2023, at no additional cost to CannU.K.

Update – meeting with FDA regarding treatment of Dupuytren’s Contracture

In March 2022, the Company received notice that the FDA had declined to grant a meeting with the Company regarding its preliminary discussion, Type C meeting for its treatment of early stage Dupuytren’s Contracture, until more information about the manufacturer of the product is provided.

The Company remains committed to the development of its early stage Dupuytren’s Contracture treatment and upon advice of its regulatory consultants plans to further correspond with the FDA with the goal of having a Type C meeting with the FDA; provided no assurances can be given that such meeting will be agreed to by the FDA or the timing of such meeting.